Market Review
On Tuesday, several Federal Reserve officials spoke, expressing caution about inflation trends. Governor Waller stated that weak inflation data over the next three to five months could allow the Federal Reserve to consider rate cuts by the end of the year, and there is no need for rate hikes at the moment. Vice Chairman Barr reiterated the need to maintain high interest rates for a longer period. Atlanta Fed President Bostic believes measures are needed to ensure inflation does not rebound and expects no rate cuts before Q4. The Dollar Index fluctuated steadily and finally closed at 104.65.
Today's Focus
Dollar Index: Continued narrow-range fluctuations. Upper resistance remains in the 104.9-105.1 region, while the lower support is at the 104 level. The short-term trend will continue to fluctuate until this region is breached.
EUR/USD: The strong support remains at the 1.08 region. The short-term trend will continue to fluctuate at high levels unless this support is broken. Upper resistance is at the 1.094 region. Until the trend breaks through this resistance effectively, high-selling and low-buying strategies can be continued.
GBP/USD: The price is consolidating in the 1.27 region of liquidity transition. Short-term operations can continue to target long positions, relying on this region not being breached. Strong upper resistance is at 1.28. Lower support is at the 1.26 region, and a short-term breach of this area will lead to further decline.
USD/JPY: The price is close to the resistance region in the short term. The previous day's decline to the 156 region for long positions can still be held. Short-term trends continue to ascend with fluctuations. Intraday minor declines can be considered for re-entering long positions.
AUD/USD: The price remains above the 0.664-0.666 support region. As long as this region holds, the short-term trend will continue to favor long positions. Upper resistance is worth monitoring at the previous high around the 0.687 region. Should the trend breach below, focus will shift back to testing the strong lower support at 0.656.
USD/CAD: The price broke above the 1.363-1.365 region and then declined. Continue to monitor for further declines if the trend is rejected. Lower support is focused on the 1.359 low for its support strength. Short-term trends remain volatile unless a clear break occurs.
Crude Oil: After rebounding to the 80 region, the trend declined. Lower short-term support remains at the 76.6-77.6 region. Continue to monitor opportunities for fluctuating trades unless this region is breached. For intraday trading, focus on short-term opportunities if the trend stabilizes.
Gold: Short-term support remains at the 2400 level. Unless the trend breaches this level, long positions can still be favored. Intraday trading can continue with long operations, while attention should be given to the 2370-2380 support region if the 2400 level is breached.
S&P Index: After reaching a new high, the short-term upward trend continues. The short-term support remains unchanged at 5300. Unless the trend declines and breaches this level, intraday long operations can be continued. If breached, strong support is at the 5200 region. No significant resistance is evident below the historical high.
Bitcoin: The price surged to the 72000 region yesterday, with short-term resistance at the 73000 level. If the trend does not surpass this region, it will decline again. Lower support is at the previous liquidity transition region around 67000. Future pullbacks should focus on long positions at this support level.
